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Tesla's 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans
The company said it made $1.48 billion from April through June, less than the $2.7 billion it made in the same period of 2023. It was Tesla's second-straight quarterly net income decline.
DETROIT (AP) — Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing. Republican nominee Donald Trump has threatened to slap tariffs on autos made in Mexico, so it wouldn’t make sense to build there in that case, Musk said. Morningstar analyst Seth Goldstein attributed the large stock drop to Tesla giving little new specific information on vehicles or tangible financial targets.
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